Wealth Professional: CEO Predicts that Gold Will Hit $3,000 Per Ounce
Article by David Kitai in Wealth Professional
Gold outperformed the S&P 500 last year.
In a year where the S&P 500 offered over 23 percent returns, the price of gold appreciated by over 26 percent, a rare occasion where the traditional ‘safe haven’ of gold outperformed risk assets while appetite for risk assets was strong. Yvonne Blaszczyk, President & CEO of BMG Group Inc., attributes much of that outperformance to a global story, underpinned by growing economies in direct competition with the West.
Blaszczyk, who is admittedly a gold bull, explained why she remains constructive on the yellow metal. With a worldview largely focused on the rise of the BRICS economies and continued geopolitical instability, she predicts continued significant price returns for gold, though admits there may be some price fluctuations along the way.
“I think the real impact on the gold price is a geopolitical situation with an economic and financial system moving from west to east, with the rise of the BRICS countries,” Blaszczyk says. “I believe that the .....